Gorakhpur (Uttar Pradesh) [India], October 19 (HBTV): Uttar Pradesh Chief Minister Yogi Adityanath on Monday hailed the implementation of next-generation Goods and Services Tax (GST) reforms, describing them as a festival gift to the country.
‘Today is the first day of Sharadiya Navratri... and on this occasion, Prime Minister Narendra Modi gave the entire country a gift by making the biggest reforms in GST. Life-saving medicines have been made free from GST, and GST on all other medicines has been cut to 5%. For farmers, GST has been cut to 5% or 0%. It has been cut to 0% on students’ stationery. This will bring a new pace to the Indian economy, and common consumers will celebrate the festivals with great fervour,’ CM Yogi said.
He further added, ‘When consumption increases, production will increase and new jobs will also be created. We established communication with consumers, businessmen, and others and carried out awareness campaigns, and one slogan is rising from everywhere — “Ghati GST, Mila Uphaar, Dhanyawaad Modi Sarkaar.” Every citizen and consumer is celebrating their festivals, thanking Prime Minister Modi and Union Finance Minister Nirmala Sitharaman.’
Meanwhile, Prime Minister Narendra Modi on Monday hailed the next-generation GST reforms, which came into force across the country, calling them a ‘double bonanza’ given to the people during the festive season.
‘From today, next-generation GST reforms have been implemented, and GST Bachat Utsav has started. On the occasion of festivals, people have received a double bonanza,’ the Prime Minister said while addressing a public event in Itanagar.
During the event, PM Modi also inaugurated and laid the foundation stone for various developmental projects worth INR 5,100 crore. He laid the foundation stone for the Heo Hydro Electric Project (240 MW) and Tato-I Hydro Electric Project (186 MW) to be developed in the Siyom sub-basin of Arunachal Pradesh. He also laid the foundation stone of a state-of-the-art Convention Centre at Tawang and multiple key infrastructure projects worth over INR 1,290 crore, catering to various sectors, including connectivity, health, fire safety, and working women’s hostels, among others.
The reform in the GST structure was approved during the 56th meeting of the GST Council earlier this month. The previous four-slab system has been replaced with a streamlined two-slab regime of 5 per cent and 18 per cent. A separate 40 per cent slab has been retained for luxury and sin goods.
This new framework is expected to ease compliance, reduce consumer prices, boost manufacturing, and support a wide range of industries — from agriculture to automobiles and from FMCG to renewable energy. It is also intended to lower the cost of living, strengthen MSMEs, widen the tax base, and drive inclusive growth.
(ANI)